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Trying not to file for Bankruptcy

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  • elklaw
    You may want to consider consumer credit counseling-debt negotiation. But also, I think it would be wise to go to consultations with a bankruptcy attorney in case you need to leave that as an option. The thing is-- should one person file for bankruptcy, or both? A bankruptcy practitioner should be able to help you figure out which approach is best for your situation.

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  • karmstrong
    started a topic Trying not to file for Bankruptcy

    Trying not to file for Bankruptcy

    I suffer with a chronic illness which caused me to be out of work for the last 11 months. I applied for long term disability with my employer and have been denied. I have exhausted all of my paid time and have just lost my job. We have used all of our emergency funds and are using a line of credit to keep us a float.

    I am currently trying to salvage my financial position. My husband does not make a great deal and is unable to meet all of our obligations. We have a mortgage and are about $20,000 in debt. I have about $40K in my retirement account and wanted to know if it makes sense to take the money out, take the 20% hit and pay off our debt so that my husband can make ends meet while I wait for a disability appeal to go through.

    If not that -- does anyone have any other feasible options?
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